Preparing Business Activity Statements (BAS) in Cimplico Workpapers can be streamlined with the right approach. Here’s how to make the most of its features to ensure an efficient and organised workflow.
Summary of Best Practice
Use one workpaper per activity statement period.
Create a firm procedure list for BAS preparation.
Leverage the “Other Schedules” section to structure your calculations.
How to Apply It
Set Up Workpapers by Period
Create one workpaper per BAS period (quarterly or monthly) when work needs to be commenced.
Set an appropriate due date and assign relevant roles. Regular BAS's may not need all three roles approved, the only mandatory one is Approver.
Develop a Procedure List for BAS
Create a procedure specifically for BAS preparation, that can be used firm-wide.
Ensure the procedure list covers all tasks that may be included in a BAS for completeness (items can always be marked as N/A if irrelevant)
Use the “Other Schedules” Section
Add a worksheet for your BAS calculations by linking to the Activity Statement (BAS) Workpaper.
Fill in the necessary details as you gather reports, and save supporting documents with clear, descriptive file names for easy reference.
Document and Communicate Clearly
Write client queries and internal comments directly within the workpaper.
Use the comments feature to agree on calculations or address issues.
Complete the Certification Process
Once the workpaper is finalised, complete the usual certification process to mark the BAS as complete.
Alternative Approaches
Some users may prefer the following methods:
Focus on key accounts in the trial balance
Import the trial balance and exclude most accounts, focusing only on key BAS-related accounts such as GST, PAYGW payable, or other BAS-related accounts.
Attach relevant files and add internal comments to these worksheets.
Create a custom trial balance for BAS fields
Build a custom trial balance with specific BAS fields (e.g., G1 Total Sales, W1 Total Wages, PAYG Withholding Payable) as individual worksheets.
This approach allows users to focus directly on the values needed for BAS reporting.
These alternative approaches can complement or replace the primary methods depending on your firm’s preferences or the complexity of your BAS reporting requirements.